Vanguard Group Inc. Acquires 75,448 Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT)

Vanguard Group Inc. grew its position in shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,714,888 shares of the company's stock after purchasing an additional 75,448 shares during the quarter. Vanguard Group Inc. owned about 7.26% of Adaptive Biotechnologies worth $64,236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC raised its stake in Adaptive Biotechnologies by 149.5% during the third quarter. Barclays PLC now owns 230,177 shares of the company's stock worth $1,180,000 after buying an additional 137,936 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Adaptive Biotechnologies by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 956,574 shares of the company's stock worth $5,735,000 after acquiring an additional 39,831 shares in the last quarter. FMR LLC boosted its position in shares of Adaptive Biotechnologies by 102.0% during the 3rd quarter. FMR LLC now owns 233,566 shares of the company's stock valued at $1,196,000 after purchasing an additional 117,965 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at about $860,000. Finally, State Street Corp grew its stake in Adaptive Biotechnologies by 2.0% during the third quarter. State Street Corp now owns 2,551,785 shares of the company's stock worth $13,065,000 after purchasing an additional 48,885 shares during the period. Institutional investors and hedge funds own 99.17% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ADPT. Scotiabank increased their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 13th. The Goldman Sachs Group raised shares of Adaptive Biotechnologies from a "neutral" rating to a "buy" rating and increased their target price for the stock from $8.00 to $9.00 in a research note on Friday, March 21st. Piper Sandler reaffirmed an "overweight" rating and issued a $11.00 price target (up from $7.00) on shares of Adaptive Biotechnologies in a research note on Thursday, February 20th. Finally, BTIG Research increased their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $9.40.

Adaptive Biotechnologies Stock Down 0.9 %

ADPT traded down $0.07 during trading on Thursday, hitting $7.42. 219,132 shares of the company's stock were exchanged, compared to its average volume of 1,898,208. Adaptive Biotechnologies Co. has a fifty-two week low of $2.28 and a fifty-two week high of $9.01. The stock has a market cap of $1.10 billion, a P/E ratio of -6.82 and a beta of 1.73. The business's 50 day moving average is $7.90 and its two-hundred day moving average is $6.68.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.04. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. During the same period last year, the firm posted ($0.30) EPS. On average, sell-side analysts forecast that Adaptive Biotechnologies Co. will post -0.92 earnings per share for the current year.

Insider Activity

In related news, COO Julie Rubinstein sold 59,505 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total transaction of $415,344.90. Following the transaction, the chief operating officer now directly owns 588,249 shares in the company, valued at approximately $4,105,978.02. The trade was a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chad M. Robins sold 211,160 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total transaction of $1,794,860.00. Following the completion of the sale, the chief executive officer now owns 2,576,701 shares of the company's stock, valued at approximately $21,901,958.50. This trade represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 757,601 shares of company stock worth $6,040,624 over the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

Adaptive Biotechnologies Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.